CIMB has unveiled its latest credit card offering, the CIMB Preferred Visa Infinite-i credit card, which is designed as the Islamic counterpart of the existing conventional CIMB Preferred Visa Infinite credit card. Described as a card that offers “distinct benefits that are aligned to positive values, centred around the three main pillars of protection, conservation, and rewards”, this new card also offers up to 8x Bonus Points for selected transactions, in addition to Takaful protection and various other forms of insurance coverage for eligible cardholders.

The CIMB Preferred Visa Infinite-i credit card allows you to earn 1x and 2x Bonus Points for every RM1 spent on local and overseas transactions, respectively. However, these points earning can subsequently be boosted up to the maximum 8x for selected payments when the cardholder maintains a minimum aggregated total deposit and/or investment of RM250,000 with CIMB at all times. Specifically, cardholders can get:

• Additional 7x Bonus Points for local dining expenses, zakat or sadaqah transactions
• Additional 6x Bonus Points for overseas spend

Note as well that these additional Bonus Points will only be awarded on a quarterly basis. The points earned can then be redeemed for holiday or umrah packages, or be converted into donations for new charities and waqf (in addition to the usual gifts, vouchers, or air miles redemptions).

Aside from the 8x Bonus Points benefit, CIMB Preferred Visa Infinite-i cardholders will also be entitled to premium Takaful protection, including travel coverage of RM1 million, personal accident coverage of RM100,000, and up to RM10,000 for outstanding card balances. This is in addition to an extended protection of RM100 per day for hospital allowance, a Badal Haji benefit of RM3,000, and Qurban contribution of RM750.

On top of that, cardholders are also offered various travel rewards, including 8x access to selected Plaza Premium Lounges worldwide from today until 28 February 2023. To tap into this perk, however, you must again ensure that you have a minimum aggregated total deposit and/or investment of RM250,000 with CIMB. Additionally, you can enjoy preferential foreign exchange rates at CIMB’s currency exchange booths in Malaysia, as well as Visa concierge privileges.

The CIMB Preferred Visa Infinite-i also includes a nod to CIMB’s commitment to sustainability; the card is made from 82% biodegradable polyactic acid (PLA) material, thereby removing more than 80% of polyvinyl chloride (PVC) in the card. In effect, it reduces the carbon footprint of the card, making it an eco-friendly card.

According to the chief executive officer of the CIMB Group Islamic Banking, Ahmad Shahriman Mohd Shariff, this new offering is a shariah-compliant financial solution that is tailored to CIMB customers’ beliefs and values. “Above and beyond the elite privileges catering to personal banking and lifestyle experience, the CIMB Preferred Visa Infinite-i credit card will also provide our customers with an opportunity to understand the importance of an Islamic credit card and its positive and meaningful impact on their wealth planning as well as social philanthropy,” he said.

Ahmad Shariman also emphasised that the bank will strive to meet the needs of this market segment that aligns with moral principles, while making shariah-compliant transactions easy, secure, and rewarding for its cardholders.

As its name implies, the CIMB Preferred Visa Infinite-i credit card is only available to CIMB Preferred customers (when you meet any of the minimum requirements, namely having RM250,000 in deposit and investments, RM1 million in home financing and business premises financing, or RM300,000 in hire purchase financing). Annual fee is waived for both the principal and supplementary card.

As mentioned earlier, this new CIMB Preferred Visa Infinite-i credit card has a conventional counterpart as well: the CIMB Preferred Visa Infinite credit card. Similar to the Islamic version, it also lets you earn up to 8x Bonus Points for selected payments, along with travel and insurance coverage perks.

• TAGS:
• Ahmad Shahriman Mohd Shariff
• CIMB
• CIMB Bank
• CIMB Preferred Visa Infinite Credit Card
• CIMB Preferred Visa Infinite-i Credit Card